*September 2, 2024*The wave of layoffs in the tech industry shows no signs of slowing down, with 27,065 employees laid off in August 2024 alone. According to data from Layoffs.FYI, 44 tech companies around the world executed job cuts last month, marking a significant increase from the 9,051 layoffs recorded in July.The recent surge in layoffs is largely attributed to companies’ efforts to reduce costs amid challenging economic conditions. Major tech firms like Intel, Cisco Systems, and Infineon Technologies have announced job cuts as part of their restructuring and cost-cutting strategies.The ongoing layoffs highlight the volatility in the tech sector, where companies are recalibrating their workforces in response to market pressures, declining revenues, and the need to streamline operations.Industry analysts expect that the trend of job cuts may continue as companies grapple with economic uncertainties and strive to optimize their resources.